Page | ||||||
ARTICLE I DEFINITIONS AND ACCOUNTING MATTERS | ||||||
Section 1.01 | Terms Defined Above | 1 | ||||
Section 1.02 | Certain Defined Terms | 1 | ||||
Section 1.03 | Types of Loans and Borrowings | 22 | ||||
Section 1.04 | Terms Generally; Rules of Construction | 22 | ||||
Section 1.05 | Accounting Terms and Determinations; GAAP | 23 | ||||
ARTICLE II THE CREDITS | ||||||
Section 2.01 | Commitments | 23 | ||||
Section 2.02 | Loans and Borrowings | 24 | ||||
Section 2.03 | Requests for Borrowings | 25 | ||||
Section 2.04 | Interest Elections | 26 | ||||
Section 2.05 | Funding of Borrowings | 27 | ||||
Section 2.06 | Termination, Reduction and Increase of Aggregate Maximum Credit Amounts | 28 | ||||
Section 2.07 | Borrowing Base | 30 | ||||
Section 2.08 | Letters of Credit | 33 | ||||
ARTICLE III PAYMENTS OF PRINCIPAL AND INTEREST; PREPAYMENTS; FEES | ||||||
Section 3.01 | Repayment of Loans | 38 | ||||
Section 3.02 | Interest | 38 | ||||
Section 3.03 | Alternate Rate of Interest | 39 | ||||
Section 3.04 | Prepayments | 39 | ||||
Section 3.05 | Fees | 41 | ||||
ARTICLE IV PAYMENTS; PRO RATA TREATMENT; SHARING OF SET-OFFS | ||||||
Section 4.01 | Payments Generally; Pro Rata Treatment; Sharing of Set-offs | 42 | ||||
Section 4.02 | Presumption of Payment by the Borrower | 43 | ||||
Section 4.03 | Payments and Deductions to a Defaulting Lender | 43 | ||||
Section 4.04 | Disposition of Proceeds | 45 | ||||
ARTICLE V INCREASED COSTS; BREAK FUNDING PAYMENTS; TAXES; ILLEGALITY | ||||||
Section 5.01 | Increased Costs | 46 | ||||
Section 5.02 | Break Funding Payments | 47 | ||||
Section 5.03 | Taxes | 47 | ||||
Section 5.04 | Mitigation Obligations; Replacement of Lenders | 48 | ||||
Section 5.05 | Illegality | 49 |
i
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ARTICLE VI CONDITIONS PRECEDENT | ||||||
Section 6.01 | Effective Date | 50 | ||||
Section 6.02 | Each Credit Event | 52 | ||||
ARTICLE VII REPRESENTATIONS AND WARRANTIES | ||||||
Section 7.01 | Organization; Powers | 53 | ||||
Section 7.02 | Authority; Enforceability | 53 | ||||
Section 7.03 | Approvals; No Conflicts | 53 | ||||
Section 7.04 | Financial Condition; No Material Adverse Change | 54 | ||||
Section 7.05 | Litigation | 54 | ||||
Section 7.06 | Environmental Matters | 54 | ||||
Section 7.07 | Compliance with the Laws and Agreements; No Defaults | 56 | ||||
Section 7.08 | Investment Company Act | 56 | ||||
Section 7.09 | Taxes | 56 | ||||
Section 7.10 | ERISA | 56 | ||||
Section 7.11 | Disclosure; No Material Misstatements | 57 | ||||
Section 7.12 | Insurance | 57 | ||||
Section 7.13 | Restriction on Liens | 58 | ||||
Section 7.14 | Subsidiaries; Foreign Operations | 58 | ||||
Section 7.15 | Location of Business and Offices | 58 | ||||
Section 7.16 | Properties; Titles, Etc. | 58 | ||||
Section 7.17 | Maintenance of Properties | 59 | ||||
Section 7.18 | Gas Imbalances, Prepayments | 60 | ||||
Section 7.19 | Marketing of Production | 60 | ||||
Section 7.20 | Swap Agreements | 60 | ||||
Section 7.21 | Use of Loans and Letters of Credit | 60 | ||||
Section 7.22 | Solvency | 61 | ||||
Section 7.23 | Designated Senior Indebtedness | 61 | ||||
ARTICLE VIII AFFIRMATIVE COVENANTS | ||||||
Section 8.01 | Financial Statements; Other Information | 61 | ||||
Section 8.02 | Notices of Material Events | 64 | ||||
Section 8.03 | Existence; Conduct of Business | 64 | ||||
Section 8.04 | Payment of Obligations | 65 | ||||
Section 8.05 | Operation and Maintenance of Properties | 65 | ||||
Section 8.06 | Insurance | 66 | ||||
Section 8.07 | Books and Records; Inspection Rights | 66 | ||||
Section 8.08 | Compliance with Laws | 66 | ||||
Section 8.09 | Environmental Matters | 66 | ||||
Section 8.10 | Further Assurances | 67 | ||||
Section 8.11 | Reserve Reports | 68 | ||||
Section 8.12 | Title Information | 69 | ||||
Section 8.13 | Additional Collateral; Additional Guarantors | 70 |
ii
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Section 8.14 | ERISA Compliance | 71 | ||||
Section 8.15 | Swap Agreements | 71 | ||||
Section 8.16 | Marketing Activities | 71 | ||||
Section 8.17 | Unrestricted Subsidiaries | 72 | ||||
ARTICLE IX NEGATIVE COVENANTS | ||||||
Section 9.01 | Financial Covenants | 73 | ||||
Section 9.02 | Debt | 73 | ||||
Section 9.03 | Liens | 74 | ||||
Section 9.04 | Dividends, Distributions and Redemptions; Repayment of Senior Notes | 74 | ||||
Section 9.05 | Investments, Loans and Advances | 76 | ||||
Section 9.06 | Nature of Business; International Operations | 77 | ||||
Section 9.07 | Proceeds of Notes | 78 | ||||
Section 9.08 | ERISA Compliance | 78 | ||||
Section 9.09 | Sale or Discount of Receivables | 78 | ||||
Section 9.10 | Mergers, Etc. | 78 | ||||
Section 9.11 | Sale of Oil and Gas Properties | 79 | ||||
Section 9.12 | Environmental Matters | 80 | ||||
Section 9.13 | Transactions with Affiliates | 80 | ||||
Section 9.14 | Subsidiaries | 80 | ||||
Section 9.15 | Negative Pledge Agreements; Dividend Restrictions | 81 | ||||
Section 9.16 | Swap Agreements | 81 | ||||
Section 9.17 | Designation and Conversion of Restricted and Unrestricted Subsidiaries; Debt of Unrestricted Subsidiaries | 82 | ||||
ARTICLE X EVENTS OF DEFAULT; REMEDIES | ||||||
Section 10.01 | Events of Default | 83 | ||||
Section 10.02 | Remedies | 85 | ||||
ARTICLE XI THE AGENTS | ||||||
Section 11.01 | Appointment; Powers | 86 | ||||
Section 11.02 | Duties and Obligations of Administrative Agent | 86 | ||||
Section 11.03 | Action by Administrative Agent | 87 | ||||
Section 11.04 | Reliance by Administrative Agent | 88 | ||||
Section 11.05 | Subagents | 88 | ||||
Section 11.06 | Resignation or Removal of Administrative Agent | 88 | ||||
Section 11.07 | Agents as Lenders | 89 | ||||
Section 11.08 | No Reliance | 89 | ||||
Section 11.09 | Administrative Agent May File Proofs of Claim | 89 | ||||
Section 11.10 | Authority of Administrative Agent to Release Collateral and Liens | 90 | ||||
Section 11.11 | The Arranger, the Syndication Agents and the Documentation Agents | 90 |
iii
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ARTICLE XII MISCELLANEOUS | ||||||
Section 12.01 | Notices | 90 | ||||
Section 12.02 | Waivers; Amendments | 91 | ||||
Section 12.03 | Expenses, Indemnity; Damage Waiver | 92 | ||||
Section 12.04 | Successors and Assigns | 95 | ||||
Section 12.05 | Survival; Revival; Reinstatement | 98 | ||||
Section 12.06 | Counterparts; Integration; Effectiveness | 99 | ||||
Section 12.07 | Severability | 100 | ||||
Section 12.08 | Right of Setoff | 100 | ||||
Section 12.09 | GOVERNING LAW; JURISDICTION; CONSENT TO SERVICE OF PROCESS | 100 | ||||
Section 12.10 | Headings | 101 | ||||
Section 12.11 | Confidentiality | 101 | ||||
Section 12.12 | Interest Rate Limitation | 102 | ||||
Section 12.13 | Collateral Matters; Swap Agreements | 103 | ||||
Section 12.14 | No Third Party Beneficiaries | 103 | ||||
Section 12.15 | USA Patriot Act Notice | 103 |
iv
Annex I | List of Maximum Credit Amounts | |
Exhibit A | Form of Note | |
Exhibit B | Form of Borrowing Request | |
Exhibit C | Form of Interest Election Request | |
Exhibit D | Form of Compliance Certificate | |
Exhibit E-1 | Form of Legal Opinion of Bruce R. DeBoer, General Counsel to the Parent Guarantor and the Borrower | |
Exhibit E-2 | Form of Legal Opinion Issues of Foley & Lardner LLP, special counsel to Parent Guarantor and the Borrower | |
Exhibit E-3 | Form of Legal Opinion of Local Counsel | |
Exhibit F-1 | Security Instruments | |
Annex F-1—List of Existing Mortgages, Deeds of Trust and Financing Statements | ||
Exhibit F-2 | Form of Guaranty and Pledge Agreement | |
Exhibit G | Form of Assignment and Assumption | |
Exhibit H-1 | Form of Maximum Credit Amount Increase Agreement | |
Exhibit H-2 | Form of Additional Lender Agreement | |
Exhibit I | Form of Reserve Report Certificate | |
Schedule 2.01 | Existing Letters of Credit | |
Schedule��7.05 | Litigation | |
Schedule 7.06 | Environmental Matters | |
Schedule 7.14 | Subsidiaries and Partnerships | |
Schedule 7.15 | Location of Subsidiaries | |
Schedule 7.18 | Gas Imbalances | |
Schedule 7.19 | Marketing Contracts | |
Schedule 7.20 | Swap Agreements | |
Schedule 9.02 | Existing Debt | |
Schedule 9.03 | Existing Liens | |
Schedule 9.05 | Existing Investments |
v
Definitions and Accounting Matters
Borrowing Base | ³ 25% but | ³ 50% but | ³ 75% but | |||||||||||||||||
Utilization Percentage | <25% | <50% | <75% | <90% | ³ 90% | |||||||||||||||
Eurodollar Loans | 1.75 | % | 2.00 | % | 2.25 | % | 2.50 | % | 2.75 | % | ||||||||||
ABR Loans | 0.75 | % | 1.00 | % | 1.25 | % | 1.50 | % | 1.75 | % |
2
3
4
5
6
7
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9
10
11
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14
15
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17
18
19
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21
22
The Credits
23
24
25
26
27
28
29
30
31
32
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34
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36
37
Payments of Principal and Interest; Prepayments; Fees
38
39
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41
Payments; Pro Rata Treatment; Sharing of Set-offs
42
43
44
Increased Costs; Break Funding Payments; Taxes; Illegality
45
46
47
48
49
Conditions Precedent
50
51
52
Representations and Warranties
53
54
55
56
57
58
59
60
Affirmative Covenants
61
62
63
64
65
66
67
68
69
70
71
Negative Covenants
Fiscal Quarter Ending | Ratio | |||
December 31, 2010 to December 31, 2012 | 4.25 to 1.0 | |||
March 31, 2013 and thereafter | 4.0 to 1.0 |
72
73
74
75
76
77
78
79
80
Percentage Limitation | ||||||||
Calendar Year Hedged (relative to measurement date) | Oil | Gas | ||||||
Months 1-24 | 80 | % | 80 | % | ||||
Months 25-48 | 70 | % | 70 | % | ||||
Months 49-60 | 60 | % | 60 | % |
81
82
Events of Default; Remedies
83
84
85
The Agents
86
87
88
89
Miscellaneous
90
91
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PARENT GUARANTOR: | WHITING PETROLEUM CORPORATION | |||
By: | /s/ James J. Volker | |||
Name: | James J. Volker | |||
Title: | Chairman, President and Chief Executive Officer | |||
BORROWER: | WHITING OIL AND GAS CORPORATION | |||
By: | /s/ James J. Volker | |||
Name: | James J. Volker | |||
Title: | Chairman, President and Chief Executive Officer |
1
ADMINISTRATIVE AGENT: | JPMORGAN CHASE BANK, N.A. | |||
By: | /s/ Ryan Fuessel | |||
Name: | Ryan Fuessel | |||
Title: | Senior Vice President |
2
SYNDICATION AGENTS: | BANK OF AMERICA, N.A. | |||
By: | /s/ Sandra M. Serie | |||
Name: | Sandra M. Serie | |||
Title: | Vice President | |||
WELLS FARGO BANK, N.A. | ||||
By: | /s/ William Champion | |||
Name: | William Champion | |||
Title: | Assistant Vice President |
3
DOCUMENTATION AGENTS: | COMPASS BANK | |||
By: | /s/ Greg Determann | |||
Name: | Greg Determann | |||
Title: | Senior Vice President | |||
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK | ||||
By: | /s/ Darrell Stanley | |||
Name: | Darrell Stanley | |||
Title: | Managing Director | |||
By: | /s/ Michael Willis | |||
Name: | Michael Willis | |||
Title: | Managing Director |
4
LENDERS: | JPMORGAN CHASE BANK, N.A. | |||
By: | /s/ Ryan Fuessel | |||
Name: | Ryan Fuessel | |||
Title: | Senior Vice President |
5
BANK OF AMERICA, N.A. | ||||
By: | /s/ Sandra Serie | |||
Name: | Sandra Serie | |||
Title: | Vice President |
6
WELLS FARGO BANK, N.A. | ||||
By: | /s/ William Champion | |||
Name: | William Champion | |||
Title: | Assistant Vice President |
7
COMPASS BANK | ||||
By: | /s/ Greg Determann | |||
Name: | Greg Determann | |||
Title: | Senior Vice President |
8
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK | ||||
By: | /s/ Darrell Stanley | |||
Name: | Darrell Stanley | |||
Title: | Managing Director | |||
By: | /s/ Michael Willis | |||
Name: | Michael Willis | |||
Title: | Managing Director |
9
UNION BANK, N.A. (formerly known as Union Bank of California, N.A.) | ||||
By: | /s/ Whitney Randolph | |||
Name: | Whitney Randolph | |||
Title: | Vice President |
10
U.S. BANK NATIONAL ASSOCIATION | ||||
By: | /s/ Bruce E. Hernandez | |||
Name: | Bruce E. Hernandez | |||
Title: | Vice President |
11
BANK OF SCOTLAND | ||||
By: | /s/ Julia R. Franklin | |||
Name: | Julia R. Franklin | |||
Title: | Assistant Vice President |
12
THE BANK OF NOVA SCOTIA | ||||
By: | /s/ David Mills | |||
Name: | David Mills | |||
Title: | MD — Head of Energy Execution |
13
��
SUNTRUST BANK, NA | ||||
By: | /s/ Gregory C. Magnuson | |||
Name: | Gregory C. Magnuson | |||
Title: | Vice President |
14
KEYBANK NATIONAL ASSOCIATION | ||||
By: | /s/ David M. Morris | |||
Name: | David M. Morris | |||
Title: | Vice President |
15
BARCLAYS BANK PLC | ||||
By: | /s/ Ann E. Sutton | |||
Name: | Ann E. Sutton | |||
Title: | Director |
16
BNP PARIBAS | ||||
By: | /s/ Matthew A. Turner | |||
Name: | Matthew A. Turner | |||
Title: | Vice President | |||
BNP PARIBAS | ||||
By: | /s/ Russell Otts | |||
Name: | Russell Otts | |||
Title: | Director |
17
COMERICA BANK | ||||
By: | /s/ Paul J. Edmonds | |||
Name: | Paul J. Edmonds | |||
Title: | Vice President |
18
MORGAN STANLEY BANK | ||||
By: | /s/ Sherrese Clark | |||
Name: | Sherrese Clark | |||
Title: | Authorized Signatory |
19
RAYMOND JAMES BANK, FSB | ||||
By: | /s/ Garrett McKinnon | |||
Name: | Garrett McKinnon | |||
Title: | Senior Vice President |
20
ROYAL BANK OF CANADA | ||||
By: | /s/ Jay T. Sartain | |||
Name: | Jay T. Sartain | |||
Title: | Authorized Signatory |
21
BANK OF OKLAHOMA, N.A. | ||||
By: | /s/ Michael M. Logan | |||
Name: | Michael M. Logan | |||
Title: | Senior Vice President |
22
RB INTERNATIONAL FINANCE (USA) LLC (formerly known as RZB Finance LLC) | ||||
By: | /s/ Stephen A. Plauche | |||
Name: | Stephen A. Plauche | |||
Title: | First Vice President | |||
By: | /s/ Randall Abrams | |||
Name: | Randall Abrams | |||
Title: | Vice President |
23
LIST OF MAXIMUM CREDIT AMOUNTS
Applicable | Maximum Credit | |||||||
Name of Lender | Percentage | Amount | ||||||
JPMorgan Chase Bank, N.A. | 11.36 | % | $ | 125,000,000.00 | ||||
Bank of America, N.A. | 11.36 | % | $ | 125,000,000.00 | ||||
Well Fargo Bank, N.A. | 11.36 | % | $ | 125,000,000.00 | ||||
Compass Bank | 6.82 | % | $ | 75,000,000.00 | ||||
Credit Agricole Corporate and Investment Bank | 6.82 | % | $ | 75,000,000.00 | ||||
Union Bank, N.A. | 5.45 | % | $ | 60,000,000.00 | ||||
U.S. Bank National Association | 5.45 | % | $ | 60,000,000.00 | ||||
Bank of Scotland | 5.27 | % | $ | 58,000,000.00 | ||||
The Bank of Nova Scotia | 4.55 | % | $ | 50,000,000.00 | ||||
SunTrust Bank | 4.55 | % | $ | 50,000,000.00 | ||||
KeyBank National Association | 4.09 | % | $ | 45,000,000.00 | ||||
Barclays Bank PLC | 3.18 | % | $ | 35,000,000.00 | ||||
BNP Paribas | 3.18 | % | $ | 35,000,000.00 | ||||
Comerica Bank | 3.18 | % | $ | 35,000,000.00 | ||||
Morgan Stanley Bank | 3.18 | % | $ | 35,000,000.00 | ||||
Raymond James Bank | 3.18 | % | $ | 35,000,000.00 | ||||
Royal Bank of Canada | 3.18 | % | $ | 35,000,000.00 | ||||
Bank of Oklahoma, N.A. | 2.45 | % | $ | 27,000,000.00 | ||||
RB International Finance (USA) LLC | 1.36 | % | $ | 15,000,000.00 | ||||
TOTAL | 100.00 | % | $ | 1,100,000,000.00 |
Annex I-1
FORM OF NOTE
$[ ] | [ ], 201[ ] |
WHITING OIL AND GAS CORPORATION | ||||
By: | ||||
Name: | ||||
Title: |
Exhibit A-1
FORM OF BORROWING REQUEST
[ ]
[ ]
[ ]
[ ]
Exhibit B-1
WHITING PETROLEUM CORPORATION | ||||
By: | ||||
Name: | ||||
Title: | ||||
WHITING OIL AND GAS CORPORATION | ||||
By: | ||||
Name: | ||||
Title: |
Exhibit B-2
FORM OF INTEREST ELECTION REQUEST
WHITING OIL AND GAS CORPORATION | ||||
By: | ||||
Name: | ||||
Title: |
Exhibit C-1
FORM OF
COMPLIANCE CERTIFICATE
Exhibit D-1
WHITING PETROLEUM CORPORATION | ||||
By: | ||||
Name: | ||||
Title: | ||||
WHITING OIL AND GAS CORPORATION | ||||
By: | ||||
Name: | ||||
Title: |
Exhibit D-2
FORM OF LEGAL OPINION OF BRUCE R. DEBOER, GENERAL COUNSEL
Exhibit E-1-1
FORM OF LEGAL OPINION OF FOLEY & LARDNER, LLP
Exhibit E-2-1
FORM OF LEGAL OPINION OF LOCAL COUNSEL
Exhibit E-3-1
SECURITY INSTRUMENTS
1) | Amended and Restated Guaranty and Pledge Agreement dated as of October 15, 2010 by the Parent Guarantor and the Borrower, in favor of the Administrative Agent and the Lenders. | |
2) | UCC-3 Financing Statement Amendments in respect of item 1, by |
a) | the Borrower. | ||
b) | the Parent Guarantor. |
3) | Stock Powers delivered in respect of item 1. |
a) | the Borrower. |
4) | Security Agreement dated as of October 13, 2010 by the Parent Guarantor in favor of the Administrative Agent, the Lenders and others. | |
5) | UCC-3 Financing Statement Amendment in respect of item 4 by the Parent Guarantor. | |
6) | Existing Mortgages and Deeds of Trust listed in Part A of Annex F-1 and recorded on the dates and at the places set forth in Part A of Annex F-1. | |
7) | UCC-1 and UCC-3 Financing Statements listed in Part A of Annex F-1 and recorded on the dates and at the places set forth in Part A of Annex F-1. | |
8) | Mortgage Amendments in respect to the following Mortgages and/or Deeds of Trust referred to in item 6: |
a) | Moffat County, Colorado. | ||
b) | Rio Blanco County, Colorado. | ||
c) | Alpena County, Michigan. | ||
d) | Antrim County, Michigan. | ||
e) | Arenac County, Michigan. | ||
f) | Charlevoix County, Michigan. | ||
g) | Montmorency County, Michigan. | ||
h) | Ogemaw County, Michigan. | ||
i) | Oscoda County, Michigan. | ||
j) | Otsego County, Michigan. | ||
k) | Billings County, North Dakota. |
Exhibit F-1-1
l) | Bottineau County, North Dakota. | ||
m) | Bowman County, North Dakota. | ||
n) | McKenzie County, North Dakota. | ||
o) | Mountrail County, North Dakota. | ||
p) | Stark County, North Dakota. | ||
q) | Eddy County, New Mexico. | ||
r) | Lea County, New Mexico. | ||
s) | Texas County, Oklahoma. | ||
t) | Andrews County, Texas. | ||
u) | Aransas County, Texas. | ||
v) | Dawson County, Texas. | ||
w) | DeWitt County, Texas. | ||
x) | Gaines County, Texas. | ||
y) | Garza County, Texas. | ||
z) | Howard County, Texas. | ||
aa) | Lamb County, Texas. | ||
bb) | Lavaca County, Texas. | ||
cc) | Nueces County, Texas. | ||
dd) | Stephens County, Texas. | ||
ee) | Ward County, Texas. | ||
ff) | Winkler County, Texas. | ||
gg) | Big Horn County, Wyoming. | ||
hh) | Johnson County, Wyoming. | ||
ii) | Sweetwater County, Wyoming. |
9) | UCC-3 Financing Statement Amendments in respect to the Amendments to Mortgages and/or Deeds of Trust referred to in item 8. |
Exhibit F-1-2
10) | Mortgages and Deeds of Trust listed in Part B of Annex F-1 to be recorded at the places set forth in Part B of Annex F-1. | |
11) | UCC-1 Financing Statements listed in Part B of Annex F-1 to be recorded at the places set forth in Part B of Annex F-1. | |
12) | Fee Letter dated September 3, 2010 among JPMorgan Chase Bank, N.A., J.P. Morgan Securities, LLC and Whiting Oil and Gas Corporation. |
Exhibit F-1-3
1) | Mortgage, Mortgage — Short-Term Mortgage Redemption, Mortgage — Collateral Real Estate Mortgage, Deed of Trust, Security Agreement, Financing Statement and Assignment of Production dated as of December 20, 2002, from the Borrower, as mortgagor, to the Administrative Agent as successor by merger to Bank One, NA, as mortgagee, filed in the following counties: |
a) | Alpena County, Michigan. | ||
b) | Antrim County, Michigan. | ||
c) | Arenac County, Michigan. | ||
d) | Charlevoix County, Michigan. | ||
e) | Montmorency County, Michigan. | ||
f) | Ogemaw County, Michigan. | ||
g) | Oscoda County, Michigan. | ||
h) | Otsego County, Michigan. | ||
i) | Billings County, North Dakota. | ||
j) | Bottineau County, North Dakota. | ||
k) | Bowman County, North Dakota. | ||
l) | McKenzie County, North Dakota. | ||
m) | Stark County, North Dakota. | ||
n) | Dawson County, Texas. | ||
o) | DeWitt County, Texas. | ||
p) | Garza County, Texas. | ||
q) | Lavaca County, Texas. | ||
r) | Nueces County, Texas. |
Annex F-1-1
2) | UCC-1 Financing Statement of Whiting Petroleum Corporation, as Debtor, in favor of the Administrative Agent as Secured Party, filed in connection with 1 above in the following counties: |
a) | Alpena County, Michigan. | ||
b) | Antrim County, Michigan. | ||
c) | Arenac County, Michigan. | ||
d) | Charlevoix County, Michigan. | ||
e) | Montmorency County, Michigan. | ||
f) | Ogemaw County, Michigan. | ||
g) | Otsego County, Michigan. | ||
h) | Billings County, North Dakota. | ||
i) | Bottineau County, North Dakota. | ||
j) | Bowman County, North Dakota. | ||
k) | McKenzie County, North Dakota. | ||
l) | Dawson County, Texas. | ||
m) | DeWitt County, Texas. | ||
n) | Garza County, Texas. | ||
o) | Lavaca County, Texas. | ||
p) | Nueces County, Texas. |
3) | Mortgage, Mortgage — Short-Term Mortgage Redemption, Mortgage — Collateral Real Estate Mortgage, Deed of Trust, Security Agreement, Financing Statement and Assignment of Production dated as of October 24, 2003, from the Borrower, as mortgagor, to the Administrative Agent as successor by merger to Bank One, NA, as mortgagee, filed in the following county: |
a) | Aransas County, Texas. |
4) | Amendment to and Ratification of Mortgages dated as of June 3, 2004, between the Borrower, as mortgagor and the Administrative Agent as successor by merger to Bank One, NA, as mortgagee, filed in the following counties: |
a) | Alpena County, Michigan. |
Annex F-1-2
b) | Antrim County, Michigan. | ||
c) | Arenac County, Michigan. | ||
d) | Charlevoix County, Michigan. | ||
e) | Montmorency County, Michigan. | ||
f) | Ogemaw County, Michigan. | ||
g) | Oscoda County, Michigan. | ||
h) | Otsego County, Michigan. | ||
i) | Billings County, North Dakota. | ||
j) | Bottineau County, North Dakota. | ||
k) | Bowman County, North Dakota. | ||
l) | McKenzie County, North Dakota. | ||
m) | Stark County, North Dakota. | ||
n) | Aransas County, Texas. | ||
o) | Dawson County, Texas. | ||
p) | DeWitt County, Texas. | ||
q) | Garza County, Texas. | ||
r) | Lavaca County, Texas. | ||
s) | Nueces County, Texas. |
5) | Mortgage, Mortgage — Short-Term Mortgage Redemption, Mortgage — Collateral Real Estate Mortgage, Deed of Trust, Security Agreement, Financing Statement and Assignment of Production dated as of September 23, 2004 by the Borrower (as survivor by merger), as mortgagor, to the Administrative Agent as successor by merger to Bank One, NA, as mortgagee, filed in the following counties: |
a) | Rio Blanco County, Colorado. | ||
b) | Big Horn County, Wyoming. | ||
c) | Sweetwater County, Wyoming. |
Annex F-1-3
6) | UCC-1 Financing Statement of the Borrower (as survivor by merger), as Debtor, in favor of the Administrative Agent, as Secured Party, filed in connection with 5 above in the following counties: |
a) | Rio Blanco County, Colorado | ||
b) | Big Horn County, Wyoming. | ||
c) | Sweetwater County, Wyoming. |
7) | Mortgage, Mortgage — Short-Term Mortgage Redemption, Mortgage — Collateral Real Estate Mortgage, Deed of Trust, Security Agreement, Financing Statement and Assignment of Production dated as of September 23, 2004 by the Borrower, as mortgagor, to the Administrative Agent as successor by merger to Bank One, NA, as mortgagee, filed in the following counties: |
a) | Moffat County, Colorado. | ||
b) | Eddy County, New Mexico. | ||
c) | Lea County, New Mexico. | ||
d) | Andrews County, Texas. | ||
e) | Gaines County, Texas. | ||
f) | Howard County, Texas. | ||
g) | Lamb County, Texas. | ||
h) | Stephens County, Texas. | ||
i) | Winkler County, Texas. | ||
j) | Big Horn County, Wyoming. | ||
k) | Johnson County, Wyoming. | ||
l) | Sweetwater County, Wyoming. |
8) | UCC-1 Financing Statement of Whiting Oil and Gas, as Debtor, in favor of Administrative Agent, as Secured Party, filed in connection with 7 above in the following counties: |
a) | Moffat County, Colorado. | ||
b) | Eddy County, New Mexico. | ||
c) | Lea County, New Mexico. |
Annex F-1-4
d) | Andrews County, Texas. | ||
e) | Gaines County, Texas. | ||
f) | Howard County, Texas. | ||
g) | Lamb County, Texas. | ||
h) | Stephens County, Texas. | ||
i) | Winkler County, Texas. | ||
j) | Big Horn County, Wyoming. | ||
k) | Johnson County, Wyoming. | ||
l) | Sweetwater County, Wyoming. |
9) | Amendment to and Ratification of Mortgages dated as of September 23, 2004, between the Borrower, as mortgagor and Administrative Agent as successor by merger to Bank One, NA, as mortgagee, filed in the following counties |
a) | Alpena County, Michigan. | ||
b) | Antrim County, Michigan. | ||
c) | Arenac County, Michigan. | ||
d) | Charlevoix County, Michigan | ||
e) | Montmorency County, Michigan. | ||
f) | Ogemaw County, Michigan. | ||
g) | Oscoda County, Michigan. | ||
h) | Otsego County, Michigan. | ||
i) | Billings County, North Dakota. | ||
j) | Bottineau County, North Dakota. | ||
k) | Bowman County, North Dakota. | ||
l) | McKenzie County, North Dakota. | ||
m) | Stark County, North Dakota. | ||
n) | Aransas County, Texas. |
Annex F-1-5
o) | Dawson County, Texas. | ||
p) | DeWitt County, Texas. | ||
q) | Garza County, Texas. | ||
r) | Lavaca County, Texas. | ||
s) | Nueces County, Texas. |
10) | UCC-3 Financing Statement Amendment filed in connection with 9 above in the following county: |
a) | DeWitt County, Texas. |
11) | Amendment to and Ratification of Mortgages dated August 31, 2005, between Borrower (as survivor by merger), as mortgagor, and the Administrative Agent, as mortgagee, filed in the following counties: |
a) | Rio Blanco County, Colorado. | ||
b) | Big Horn County, Wyoming. | ||
c) | Sweetwater County, Wyoming. |
12) | UCC-1 Financing Statement filed in connection with 11 above in the following county: |
a) | Big Horn County, Wyoming. |
13) | Amendment to and Ratification of Mortgages dated August 31, 2005, between the Borrower, as mortgagor, and the Administrative Agent, as mortgagee, filed in the following counties: |
a) | Alpena County, Michigan. | ||
b) | Antrim County, Michigan. | ||
c) | Arenac County, Michigan. | ||
d) | Charlevoix County, Michigan. | ||
e) | Montmorency County, Michigan. | ||
f) | Ogemaw County, Michigan. | ||
g) | Oscoda County, Michigan. | ||
h) | Otsego County, Michigan. | ||
i) | Eddy County, New Mexico. | ||
j) | Lea County, New Mexico. |
Annex F-1-6
k) | Billings County, North Dakota. | ||
l) | Bottineau County, North Dakota. | ||
m) | Bowman County, North Dakota. | ||
n) | McKenzie County, North Dakota. | ||
o) | Stark County, North Dakota. | ||
p) | Andrews County, Texas. | ||
q) | Aransas County, Texas | ||
r) | Dawson County, Texas. | ||
s) | DeWitt County, Texas. | ||
t) | Gaines County, Texas. | ||
u) | Garza County, Texas. | ||
v) | Howard County, Texas. | ||
w) | Lamb County, Texas. | ||
x) | Lavaca County, Texas. | ||
y) | Nueces County, Texas. | ||
z) | Stephens County, Texas. | ||
aa) | Winkler County, Texas. | ||
bb) | Big Horn, Wyoming. | ||
cc) | Johnson County, Wyoming. | ||
dd) | Sweetwater County, Wyoming. |
14) | Mortgage, Deed of Trust, Security Agreement, Financing Statement and Assignment of Production dated October 4, 2005, between the Borrower, as mortgagor, and the Administrative Agent as mortgagee, filed in the following counties: |
a) | Ward County, Texas. | ||
b) | Winkler County, Texas. |
15) | UCC-1 Financing Statement filed in connection with 14 above in the following counties: |
Annex F-1-7
a) | Ward County, Texas. | ||
b) | Winkler County, Texas. |
16) | Deed of Trust, Mortgage, Assignment of As-Extracted Collateral, Security Agreement and Financing Statement dated as of April 28, 2009 by the Borrower, as mortgagor, in favor of Robert C. Mertensotto, as Trustee, for the benefit the Administrative Agent, the Lenders and others to be filed in Mountrail County, North Dakota. | |
17) | UCC-3 Financing Statement Amendment filed with the Secretary of State in the state of Delaware in respect of item 16. | |
18) | UCC-1 Financing Statement naming Whiting Petroleum Corporation, as Debtor, in favor of the Administrative Agent, as Secured Party, filed on May 27, 2003, with the Delaware Secretary of State. | |
19) | UCC-3 Financing Statement Amendment amending 18 above filed on October 7, 2005, with the Delaware Secretary of State. | |
20) | UCC-3 Financing Statement Amendment amending 18 above filed on October 27, 2005, with the Delaware Secretary of State. | |
21) | UCC-1 Financing Statement of Administrative Agent, as Debtor, in favor of Administrative Agent, as Secured Party, filed on July 23, 2004, with the Delaware Secretary of State. | |
22) | UCC-3 Financing Statement Amendment amending 21 above filed on November 8, 2004, with the Delaware Secretary of State. | |
23) | UCC-3 Financing Statement Amendment amending 21 above filed on November 9, 2004, with the Delaware Secretary of State. | |
24) | UCC-1 Financing Statement naming Whiting Petroleum Corporation, as Debtor, in favor of the Administrative Agent, as Secured Party, filed on October 6, 2005, in Texas County, Oklahoma. | |
25) | UCC-1 Financing Statement naming Whiting Petroleum Corporation, as Debtor, in favor of the Administrative Agent, as Secured Party, filed on October 12, 2004, in Aransas County, Texas. | |
26) | UCC-3 Financing Statement Amendment naming Whiting Petroleum Corporation, as Debtor, in favor of the Administrative Agent, as Secured Party, filed on October 19, 2004, in DeWitt County, Texas. | |
27) | Amendment and Ratification of Mortgages dated as of April 28, 2009 between Borrower (as survivor by merger), as mortgagor, and the Administrative Agent, as mortgagee, filed in the following counties: |
a) | Rio Blanco County, CO. |
Annex F-1-8
b) | Big Horn County, WY. | ||
c) | Sweetwater County, WY. |
28) | Amendment and Ratification of Mortgages dated as of April 28, 2009 between Borrower, as mortgagor, and the Administrative Agent, as mortgagee, filed in the following counties: |
a) | Moffat County, CO. | ||
b) | Alpena County, MI. | ||
c) | Antrim County, MI. | ||
d) | Arenac County. MI. | ||
e) | Charlevoix County, MI. | ||
f) | Montmorency County, MI. | ||
g) | Ogemaw County, MI. | ||
h) | Oscoda County, MI. | ||
i) | Otsego County, MI. | ||
j) | Eddy County, NM. | ||
k) | Lea County, NM. | ||
l) | Billings County, ND. | ||
m) | Bottineau County, ND. | ||
n) | Bowman County, ND. | ||
o) | McKenzie County, ND. | ||
p) | Stark County, ND. | ||
q) | Texas County, OK. | ||
r) | Andrews County, TX. | ||
s) | Aransas County, TX. | ||
t) | Dawson County, TX. | ||
u) | DeWitt County, TX. | ||
v) | Gaines County, TX. |
Annex F-1-9
w) | Garza County, TX. | ||
x) | Howard County, TX. | ||
y) | Lamb County, TX. | ||
z) | Lavaca County, TX. | ||
aa) | Nueces County, TX. | ||
bb) | Stephens County, TX. | ||
cc) | Ward County, TX. | ||
dd) | Winkler County, TX. | ||
ee) | Big Horn County, WY. | ||
ff) | Johnson County, WY. | ||
gg) | Sweetwater County, WY. |
29) | Mortgage, Deed of Trust, Security Agreement, Financing Statement, Fixture Filing and Assignment of Production dated October 15, 2010, between Whiting Oil & Gas Corporation, as mortgagor, and the Administrative Agent as mortgagee, filed in the following county: |
a) | Uintah County, Utah. |
30) | UCC-1 Financing Statement filed in connection with 28 above in the following county: |
a) | Uintah County, Utah. |
Annex F-1-10
FORM OF GUARANTY AND PLEDGE AGREEMENT
Exhibit F-2-1
FORM OF ASSIGNMENT AND ASSUMPTION
1. | Assignor: | _____________________________ | ||
2. | Assignee: | _____________________________ [and is an Affiliate/Approved Fund of [identify Lender]1] | ||
3. | Borrower: | Whiting Oil and Gas Corporation | ||
4. | Administrative Agent: | JPMorgan Chase Bank, N.A., as the administrative agent under the Credit Agreement | ||
5. | Credit Agreement: | Fifth Amended and Restated Credit Agreement dated as of October 15, 2010 among Whiting Oil and Gas Corporation, Whiting Petroleum Corporation, as parent guarantor, the Lenders parties thereto, JPMorgan Chase Bank, N.A., as Administrative Agent, and the other agents parties thereto |
1 | Select as applicable. |
Aggregate Amount of | Amount of | |||||||||||
Commitment/Loans for | Commitment/Loans | Percentage Assigned of | ||||||||||
Commitment Assigned | all Lenders | Assigned | Commitment/Loans2 | |||||||||
$ | $ | % | ||||||||||
$ | $ | % | ||||||||||
$ | $ | % |
ASSIGNOR [NAME OF ASSIGNOR] | ||||
By: | ||||
Title: | ||||
ASSIGNEE [NAME OF ASSIGNEE] | ||||
By: | ||||
Title: | ||||
2 | Set forth, to at least 9 decimals, as a percentage of the Commitment/Loans of all Lenders thereunder. |
JPMORGAN CHASE BANK, N.A., as Administrative Agent | ||||
By | ||||
Title: | ||||
WHITING OIL AND GAS CORPORATION, as Borrower | ||||
By | ||||
Title:] | ||||
3 | If required. |
DATED AS OF OCTOBER 15, 2010 AMONG
WHITING OIL AND GAS CORPORATION,
WHITING PETROLEUM CORPORATION, AS PARENT GUARANTOR,
JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT,
THE LENDERS AND THE OTHER AGENTS PARTIES THERETO
ASSIGNMENT AND ASSUMPTION
FORM OF MAXIMUM CREDIT AMOUNT INCREASE AGREEMENT
WHITING OIL AND GAS CORPORATION | ||||
By: | ||||
Name: | ||||
Title: | ||||
WHITING PETROLEUM CORPORATION | ||||
By: | ||||
Name: | ||||
Title: | ||||
ADMINISTRATIVE AGENT: | JPMORGAN CHASE BANK, N.A. | |||
By: | ||||
Name: | ||||
Title: | ||||
LENDER | [____________________________] | |||
By: | ||||
Name: | ||||
Title: | ||||
LIST OF MAXIMUM CREDIT AMOUNTS AFTER
MAXIMUM CREDIT AMOUNT INCREASE AGREEMENT
Name of Lender | Applicable Percentage | Maximum Credit Amount | ||||||
[ ] | [ ] | % | $ | [ ] | ||||
[ ] | [ ] | % | $ | [ ] | ||||
[ ] | [ ] | % | $ | [ ] | ||||
[ ] | [ ] | % | $ | [ ] | ||||
[ ] | [ ] | % | $ | [ ] | ||||
[ ] | [ ] | % | $ | [ ] | ||||
[ ] | [ ] | % | $ | [ ] | ||||
[ ] | [ ] | % | $ | [ ] | ||||
[ ] | [ ] | % | $ | [ ] | ||||
[ ] | [ ] | % | $ | [ ] | ||||
$ | ||||||||
TOTAL | 100.00 | % | $ | [ ] | ||||
$ |
FORM OF ADDITIONAL LENDER AGREEMENT
Exhibit H-2-1
Exhibit H-2-2
WHITING OIL AND GAS CORPORATION | ||||
By: | ||||
Name: | ||||
Title: | ||||
WHITING PETROLEUM CORPORATION | ||||
By: | ||||
Name: | ||||
Title: | ||||
ADMINISTRATIVE AGENT: | JPMORGAN CHASE BANK, N.A. | |||
By: | ||||
Name: | ||||
Title: | ||||
LENDER | [ ] | |||
By: | ||||
Name: | ||||
Title: |
Exhibit H-2-3
FORM OF RESERVE REPORT CERTIFICATE
4 | Use bracketed language for certificate delivered at closing only. |
Exhibit I-1
WHITING PETROLEUM CORPORATION | ||||
By: | ||||
Name: | ||||
Title: |
Exhibit I-2
EXISTING LETTERS OF CREDIT
Original | (a)Expiration | |||||||||||
Number | Borrower | Amount | Date | |||||||||
CPCS-635848 | Whiting Oil and Gas | $ | 75,000.00 | 03/24/11 | ||||||||
Corporation | ||||||||||||
CPCS-635849 | Whiting Oil and Gas | $ | 50,000.00 | 03/24/11 | ||||||||
Corporation | ||||||||||||
CPCS-636167 | Whiting Oil and Gas | $ | 100,000.00 | 12/20/11 | ||||||||
Corporation | ||||||||||||
CPCS-732571 | Whiting Oil and Gas | $ | 175,000.00 | 09/11/11 | ||||||||
Corporation |
Schedule 2.01
LITIGATION
Schedule 7.05-1
ENVIRONMENTAL MATTERS
Schedule 7.06-1
SUBSIDIARIES AND PARTNERSHIPS
(e)Principal Place | ||||||||||||
(b) | (c)Jurisdiction of | (d)Organizational | of Business and | |||||||||
Subsidiaries | Organization | Identification Number | Chief Executive Office | |||||||||
Whiting Oil and Gas Corporation | Whiting Petroleum Corporation | 100 | % | Restricted | ||||||||
Whiting Programs, Inc. | Whiting Oil and Gas Corporation | 100 | % | Unrestricted | ||||||||
Shaw Resources Limited, LLC | Whiting Oil and Gas Corporation | 100 | % | Unrestricted | ||||||||
Whiting Transpetco, GP, LLC | Whiting Oil and Gas Corporation | 100 | % | Unrestricted | ||||||||
Whiting Transpetco, LP, LLC | Whiting Oil and Gas Corporation | 100 | % | Unrestricted |
Partnership | Owner/Percent Owned | Type | ||
Transpetco Pipeline Company, LP | Whiting Transpetco, GP, LLC (1%, as General Partner) | Unrestricted | ||
Whiting Transpetco, LP, LLC (59%, as Limited Partner) |
LOCATION OF SUBSIDIARIES
Jurisdiction of | ||||||
Organization | ||||||
Organizational ID | Location of Principal | Location of Chief | ||||
Subsidiary Name | Number | Place of Business | Executive Office | |||
Whiting Oil and Gas Corporation | Delaware 2015285 | 1700 Broadway, Suite 2300 Denver, CO 80290 | ||||
Whiting Programs, Inc. | Delaware 0927980 | 1700 Broadway, Suite 2300 Denver, CO 80290 | ||||
Shaw Resources Limited, LLC | Utah 2015917-0160 | 1700 Broadway, Suite 2300 Denver, CO 80290 | ||||
Whiting Transpetco, GP, LLC | Delaware 3958596 | 1700 Broadway, Suite 2300 Denver, CO 80290 | ||||
Whiting Transpetco, LP, LLC | Delaware 3958609 | 1700 Broadway, Suite 2300 Denver, CO 80290 | ||||
Transpetco Pipeline Company, LP | Delaware 2501840 | 625 Market Street, Suite 200 Shreveport, LA 71101 | 1700 Broadway, Suite 2300 Denver, CO 80290 |
GAS IMBALANCES
MARKETING CONTRACTS
(i) Field | State | Term | ||
Antrim Shale | Michigan | 12/31/2010 | ||
Antrim Shale | Michigan | 12/31/2011 |
SWAP AGREEMENTS
quantity | quantity | mark to | ||||||||||||||||||||||||||||||
market | strike | rate | units | frequency | start date | end date | market(1) | counterparty | ||||||||||||||||||||||||
Crude | $ | 62.50 | 35,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 15,145 | JPM | ||||||||||||||||||||||
Crude | $ | 87.80 | -35,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (101,361 | ) | JPM | |||||||||||||||||||||
Crude | $ | 60.00 | 100,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 28,513 | Wells | ||||||||||||||||||||||
Crude | $ | 68.26 | -100,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 3,955,337 | ) | Wells | |||||||||||||||||||||
Crude | $ | 62.50 | 5,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 2,164 | JPM | ||||||||||||||||||||||
Crude | $ | 87.80 | -5,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (14,480 | ) | JPM | |||||||||||||||||||||
Crude | $ | 62.50 | 60,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 25,962 | Key Bank | ||||||||||||||||||||||
Crude | $ | 87.80 | -60,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (173,762 | ) | Key Bank | |||||||||||||||||||||
Crude | $ | 60.00 | 80,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 22,811 | JPM | ||||||||||||||||||||||
Crude | $ | 81.00 | -80,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (754,880 | ) | JPM | |||||||||||||||||||||
Crude | $ | 65.00 | 75,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 47,832 | Scotia | ||||||||||||||||||||||
Crude | $ | 105.00 | -75,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (12,151 | ) | Scotia | |||||||||||||||||||||
Crude | $ | 70.00 | 50,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 69,472 | Barclays | ||||||||||||||||||||||
Crude | $ | 105.35 | -50,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (7,711 | ) | Barclays | |||||||||||||||||||||
Crude | $ | 65.00 | 50,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 31,888 | Morgan Stanley | ||||||||||||||||||||||
Crude | $ | 91.85 | -50,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (70,813 | ) | Morgan Stanley | |||||||||||||||||||||
Crude | $ | 65.00 | 50,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 31,888 | JPM | ||||||||||||||||||||||
Crude | $ | 109.25 | -50,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (4,177 | ) | JPM | |||||||||||||||||||||
Crude | $ | 65.00 | 50,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 31,888 | Scotia | ||||||||||||||||||||||
Crude | $ | 95.30 | -50,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (37,994 | ) | Scotia | |||||||||||||||||||||
Crude | $ | 60.00 | 60,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 17,108 | Key Bank | ||||||||||||||||||||||
Crude | $ | 81.00 | -60,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (566,160 | ) | Key Bank | |||||||||||||||||||||
Crude | $ | 70.00 | 60,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 83,366 | Credit Agricole | ||||||||||||||||||||||
Crude | $ | 94.40 | -60,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (53,430 | ) | Credit Agricole | |||||||||||||||||||||
Crude | $ | 70.00 | 70,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 97,260 | BBVA Compass | ||||||||||||||||||||||
Crude | $ | 94.00 | -70,000 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (66,991 | ) | BBVA Compass | |||||||||||||||||||||
Crude | $ | 45.75 | 70,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | 364,218 | Wells | ||||||||||||||||||||||
Crude | $ | 80.00 | -70,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | (9,531,045 | ) | Wells | |||||||||||||||||||||
Crude | $ | 70.00 | 80,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | 3,408,086 | Morgan Stanley | ||||||||||||||||||||||
Crude | $ | 97.50 | -80,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | (3,952,487 | ) | Morgan Stanley | |||||||||||||||||||||
Crude | $ | 70.00 | 70,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | 2,982,076 | Wells | ||||||||||||||||||||||
Crude | $ | 100.50 | -70,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | (2,884,969 | ) | Wells | |||||||||||||||||||||
Crude | $ | 70.00 | 80,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | 3,408,086 | BOA | ||||||||||||||||||||||
Crude | $ | 100.50 | -80,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | (3,297,108 | ) | BOA | |||||||||||||||||||||
Crude | $ | 70.00 | �� | 70,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | 2,982,076 | Barclays | |||||||||||||||||||||
Crude | $ | 100.50 | -70,000 | bbl | month | 1-Jan-11 | 31-Dec-11 | $ | (2,884,969 | ) | Barclays | |||||||||||||||||||||
Crude | $ | 45.90 | 40,000 | bbl | month | 1-Jan-12 | 31-Dec-12 | $ | 574,585 | Wells | ||||||||||||||||||||||
Crude | $ | 90.00 | -40,000 | bbl | month | 1-Jan-12 | 31-Dec-12 | $ | (5,298,216 | ) | Wells | |||||||||||||||||||||
Crude | $ | 51.05 | 35,000 | bbl | month | 1-Jan-11 | 31-Oct-13 | $ | 1,928,129 | JPM | ||||||||||||||||||||||
Crude | $ | 100.00 | -35,000 | bbl | month | 1-Jan-11 | 31-Oct-13 | $ | (8,038,233 | ) | JPM | |||||||||||||||||||||
Crude | $ | 51.05 | 5,000 | bbl | month | 1-Jan-11 | 31-Oct-13 | $ | 275,447 | JPM | ||||||||||||||||||||||
Crude | $ | 100.00 | -5,000 | bbl | month | 1-Jan-11 | 31-Oct-13 | $ | (1,148,319 | ) | JPM | |||||||||||||||||||||
Crude | $ | 46.00 | 50,000 | bbl | month | 1-Jan-11 | 31-Oct-13 | $ | 1,835,237 | Key Bank | ||||||||||||||||||||||
Crude | $ | 100.00 | -50,000 | bbl | month | 1-Jan-11 | 31-Oct-13 | $ | (11,483,191 | ) | Key Bank | |||||||||||||||||||||
Crude | $ | 51.05 | 10,000 | bbl | month | 1-Jan-11 | 31-Oct-13 | $ | 550,894 | Key Bank | ||||||||||||||||||||||
Crude | $ | 100.00 | -10,000 | bbl | month | 1-Jan-11 | 31-Oct-13 | $ | (2,296,638 | ) | Key Bank | |||||||||||||||||||||
Crude | $ | 60.00 | 23,000 | bbl | month | 1-Oct-10 | 30-Nov-13 | $ | 2,456,228 | Calyon |
quantity | quantity | mark to | ||||||||||||||||||||||||||||||
market | strike | rate | units | frequency | start date | end date | market(1) | counterparty | ||||||||||||||||||||||||
Crude | $ | 73.00 | -23,000 | bbl | month | 1-Oct-10 | 30-Nov-13 | $ | (15,763,315 | ) | Calyon | |||||||||||||||||||||
Crude | $ | 55.00 | 27,000 | bbl | month | 1-Oct-10 | 30-Nov-13 | $ | 2,077,216 | Calyon | ||||||||||||||||||||||
Crude | $ | 69.75 | -27,000 | bbl | month | 1-Oct-10 | 30-Nov-13 | $ | (20,668,744 | ) | Calyon | |||||||||||||||||||||
Crude | $ | 40.00 | 10,000 | bbl | month | 1-Jan-11 | 30-Nov-13 | $ | 224,738 | JPM | ||||||||||||||||||||||
Crude | $ | 90.00 | -10,000 | bbl | month | 1-Jan-11 | 30-Nov-13 | $ | (3,522,182 | ) | JPM | |||||||||||||||||||||
Crude | $ | 47.25 | 70,000 | bbl | month | 1-Jan-11 | 30-Nov-13 | $ | 3,004,230 | JPM | ||||||||||||||||||||||
Crude | $ | 90.00 | -70,000 | bbl | month | 1-Jan-11 | 30-Nov-13 | $ | (24,655,272 | ) | JPM | |||||||||||||||||||||
Crude | $ | 40.00 | 60,000 | bbl | month | 1-Jan-11 | 30-Nov-13 | $ | 1,348,429 | Key Bank | ||||||||||||||||||||||
Crude | $ | 90.00 | -60,000 | bbl | month | 1-Jan-11 | 30-Nov-13 | $ | (21,133,091 | ) | Key Bank | |||||||||||||||||||||
$ | (114,452,054 | ) | ||||||||||||||||||||||||||||||
(1) | — MTM Values from Whiting’s Perspective |
quantity | quantity | mark to | ||||||||||||||||||||||||||||||
market | strike | rate | units | frequency | start date | end date | market(1) | counterparty | ||||||||||||||||||||||||
Crude | $ | 76.00 | 20,962 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 79,642 | JPM | ||||||||||||||||||||||
Crude | $ | 131.90 | -20,962 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (22 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 20,489 | bbl | month | 1-Jan-11 | 31-Mar-11 | $ | 178,054 | JPM | ||||||||||||||||||||||
Crude | $ | 136.00 | -20,489 | bbl | month | 1-Jan-11 | 31-Mar-11 | $ | (3,063 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 20,033 | bbl | month | 1-Apr-11 | 30-Jun-11 | $ | 267,473 | JPM | ||||||||||||||||||||||
Crude | $ | 136.20 | -20,033 | bbl | month | 1-Apr-11 | 30-Jun-11 | $ | (17,292 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 19,585 | bbl | month | 1-Jul-11 | 30-Sep-11 | $ | 323,651 | JPM | ||||||||||||||||||||||
Crude | $ | 136.10 | -19,585 | bbl | month | 1-Jul-11 | 30-Sep-11 | $ | (37,416 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 19,121 | bbl | month | 1-Oct-11 | 31-Dec-11 | $ | 354,967 | JPM | ||||||||||||||||||||||
Crude | $ | 136.55 | -19,121 | bbl | month | 1-Oct-11 | 31-Dec-11 | $ | (66,697 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 18,706 | bbl | month | 1-Jan-12 | 31-Mar-12 | $ | 383,185 | JPM | ||||||||||||||||||||||
Crude | $ | 136.95 | -18,706 | bbl | month | 1-Jan-12 | 31-Mar-12 | $ | (90,720 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 18,286 | bbl | month | 1-Apr-12 | 30-Jun-12 | $ | 403,954 | JPM | ||||||||||||||||||||||
Crude | $ | 137.30 | -18,286 | bbl | month | 1-Apr-12 | 30-Jun-12 | $ | (110,273 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 17,871 | bbl | month | 1-Jul-12 | 30-Sep-12 | $ | 407,341 | JPM | ||||||||||||||||||||||
Crude | $ | 137.30 | -17,871 | bbl | month | 1-Jul-12 | 30-Sep-12 | $ | (116,581 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 17,514 | bbl | month | 1-Oct-12 | 31-Dec-12 | $ | 421,932 | JPM | ||||||||||||||||||||||
Crude | $ | 137.80 | -17,514 | bbl | month | 1-Oct-12 | 31-Dec-12 | $ | (143,660 | ) | JPM | |||||||||||||||||||||
Crude | $ | 76.00 | 20,962 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | 79,642 | JPM | ||||||||||||||||||||||
Crude | $ | 138.32 | -20,962 | bbl | month | 1-Oct-10 | 31-Dec-10 | $ | (6 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 20,489 | bbl | month | 1-Jan-11 | 31-Mar-11 | $ | 178,054 | JPM | ||||||||||||||||||||||
Crude | $ | 143.35 | -20,489 | bbl | month | 1-Jan-11 | 31-Mar-11 | $ | (1,430 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 20,033 | bbl | month | 1-Apr-11 | 30-Jun-11 | $ | 267,473 | JPM | ||||||||||||||||||||||
Crude | $ | 143.95 | -20,033 | bbl | month | 1-Apr-11 | 30-Jun-11 | $ | (11,320 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 19,585 | bbl | month | 1-Jul-11 | 30-Sep-11 | $ | 323,651 | JPM | ||||||||||||||||||||||
Crude | $ | 144.19 | -19,585 | bbl | month | 1-Jul-11 | 30-Sep-11 | $ | (25,105 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 19,121 | bbl | month | 1-Oct-11 | 31-Dec-11 | $ | 354,967 | JPM | ||||||||||||||||||||||
Crude | $ | 144.94 | -19,121 | bbl | month | 1-Oct-11 | 31-Dec-11 | $ | (46,958 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 18,706 | bbl | month | 1-Jan-12 | 31-Mar-12 | $ | 383,185 | JPM | ||||||||||||||||||||||
Crude | $ | 145.59 | -18,706 | bbl | month | 1-Jan-12 | 31-Mar-12 | $ | (66,797 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 18,286 | bbl | month | 1-Apr-12 | 30-Jun-12 | $ | 403,954 | JPM | ||||||||||||||||||||||
Crude | $ | 146.15 | -18,286 | bbl | month | 1-Apr-12 | 30-Jun-12 | $ | (83,065 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 17,871 | bbl | month | 1-Jul-12 | 30-Sep-12 | $ | 407,341 | JPM | ||||||||||||||||||||||
Crude | $ | 146.09 | -17,871 | bbl | month | 1-Jul-12 | 30-Sep-12 | $ | (89,298 | ) | JPM | |||||||||||||||||||||
Crude | $ | 74.00 | 17,514 | bbl | month | 1-Oct-12 | 31-Dec-12 | $ | 421,932 | JPM | ||||||||||||||||||||||
Crude | $ | 146.62 | -17,514 | bbl | month | 1-Oct-12 | 31-Dec-12 | $ | (112,317 | ) | JPM | |||||||||||||||||||||
Nat Gas | $ | 7.00 | 162,997 | MMBtu | month | 1-Oct-10 | 31-Dec-10 | $ | 1,499,624 | JPM | ||||||||||||||||||||||
Nat Gas | $ | 14.20 | -162,997 | MMBtu | month | 1-Oct-10 | 31-Dec-10 | $ | — | JPM | ||||||||||||||||||||||
Nat Gas | $ | 6.00 | 148,163 | MMBtu | month | 1-Jul-11 | 30-Sep-11 | $ | 755,250 | JPM | ||||||||||||||||||||||
Nat Gas | $ | 13.65 | -148,163 | MMBtu | month | 1-Jul-11 | 30-Sep-11 | $ | (101 | ) | JPM | |||||||||||||||||||||
Nat Gas | $ | 7.00 | 142,787 | MMBtu | month | 1-Oct-11 | 31-Dec-11 | $ | 992,782 | JPM | ||||||||||||||||||||||
Nat Gas | $ | 14.25 | -142,787 | MMBtu | month | 1-Oct-11 | 31-Dec-11 | $ | (391 | ) | JPM | |||||||||||||||||||||
Nat Gas | $ | 7.00 | 157,600 | MMBtu | month | 1-Jan-11 | 31-Mar-11 | $ | 1,282,845 | JPM | ||||||||||||||||||||||
Nat Gas | $ | 17.40 | -157,600 | MMBtu | month | 1-Jan-11 | 31-Mar-11 | $ | — | JPM | ||||||||||||||||||||||
Nat Gas | $ | 6.00 | 152,703 | MMBtu | month | 1-Apr-11 | 30-Jun-11 | $ | 819,431 | JPM | ||||||||||||||||||||||
Nat Gas | $ | 13.05 | -152,703 | MMBtu | month | 1-Apr-11 | 30-Jun-11 | $ | (5 | ) | JPM | |||||||||||||||||||||
Nat Gas | $ | 7.00 | 137,940 | MMBtu | month | 1-Jan-12 | 31-Mar-12 | $ | 827,090 | JPM | ||||||||||||||||||||||
Nat Gas | $ | 15.55 | -137,940 | MMBtu | month | 1-Jan-12 | 31-Mar-12 | $ | (1,003 | ) | JPM | |||||||||||||||||||||
Nat Gas | $ | 6.00 | 134,203 | MMBtu | month | 1-Apr-12 | 30-Jun-12 | $ | 549,395 | JPM |
quantity | quantity | mark to | ||||||||||||||||||||||||||||||
market | strike | rate | units | frequency | start date | end date | market(1) | counterparty | ||||||||||||||||||||||||
Nat Gas | $ | 13.60 | -134,203 | MMBtu | month | 1-Apr-12 | 30-Jun-12 | $ | (413 | ) | JPM | |||||||||||||||||||||
Nat Gas | $ | 6.00 | 130,173 | MMBtu | month | 1-Jul-12 | 30-Sep-12 | $ | 517,556 | JPM | ||||||||||||||||||||||
Nat Gas | $ | 14.45 | -130,173 | MMBtu | month | 1-Jul-12 | 30-Sep-12 | $ | (712 | ) | JPM | |||||||||||||||||||||
Nat Gas | $ | 7.00 | 126,613 | MMBtu | month | 1-Oct-12 | 31-Dec-12 | $ | 743,437 | JPM | ||||||||||||||||||||||
Nat Gas | $ | 13.40 | -126,613 | MMBtu | month | 1-Oct-12 | 31-Dec-12 | $ | (4,922 | ) | JPM | |||||||||||||||||||||
$ | 12,598,241 | |||||||||||||||||||||||||||||||
(1) | — MTM Values from Whiting’s Perspective |
EXISTING DEBT
NUMBER | ISSUER | EFF. DATE | EXPIR DATE | BALANCE | ||||||
NZS-357970 | Wells Fargo | 07/06/00 | Renews annually | $ | 22,500.00 |
Schedule 9.02-1
EXISTING LIENS
FILE DATE | FILE # | �� | TYPE OF FILING | SECURED PARTY/ASSIGNEE | ||||
05/27/2003 | 31677510 | Financing Statement | JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT CHICAGO, IL | |||||
11/21/2003 | 33144758 | Amendment | ||||||
11/08/2004 | 43168236 | Amendment | ||||||
11/09/2004 | 43232800 | Amendment | ||||||
10/07/2005 | 53200806 | Amendment | ||||||
10/27/2005 | 53388353 | Amendment | ||||||
12/06/2007 | 74601786 | Continuation | ||||||
02/06/2008 | 80442937 | Amendment | ||||||
04/19/2005 | 51306530 | Financing Statement | USA COMPRESSION PARTNERS, LP DALLAS, TX | |||||
05/15/2006 | 61738111 | Amendment | ||||||
06/26/2009 | 92164033 | Termination | ||||||
04/19/2006 | 51307009 | Financing Statement | USA COMPRESSION PARTNERS, LP DALLAS, TX | |||||
04/19/2005 | 51307074 | Financing Statement | USA COMPRESSION PARTNERS, LP DALLAS, TX | |||||
07/11/2005 | 52219625 | Financing Statement | JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT DALLAS, TX | |||||
06/03/2009 | 91748869 | Amendment | ||||||
02/11/2010 | 00455422 | Continuation | ||||||
03/17/2010 | 00905640 | Amendment | ||||||
08/16/2007 | 73122073 | Financing Statement | INTER-TEL LEASING, INC. HOUSTON, TX | |||||
08/16/2007 | 73129169 | Financing Statement | INTER-TEL LEASING, INC. HOUSTON, TX | |||||
10/12/2007 | 73853974 | Financing Statement | INTER-TEL LEASING, INC. HOUSTON, TX | |||||
04/29/2009 | 91344685 | Financing Statement | LEAF FUNDING, INC. PHILADELPHIA, PA | |||||
05/26/2009 | 91652442 | Financing Statement | AIR LIQUIDE INSTRIAL U.S. LP GRAND PRAIRIE, TX | |||||
06/03/2009 | 91747820 | Financing Statement | JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT HOUSTON, TX |
Schedule 9.03-1
FILE DATE | FILE # | TYPE OF FILING | SECURED PARTY/ASSIGNEE | |||||
08/26/2009 | 92736939 | Financing Statement | MITEL LEASING, INC. HOUSTON, TX | |||||
09/17/2010 | 03254434 | Financing Statement | MITEL LEASING, INC. HOUSTON, TX |
Schedule 9.03-2
FILE DATE | FILE # | TYPE OF FILING | SECURED PARTY/ASSIGNEE | |||||
05/27/2003 | 31677510 | Financing Statement | JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT CHICAGO, IL | |||||
11/21/2003 | 33144758 | Amendment | ||||||
11/08/2004 | 43168236 | Amendment | ||||||
11/09/2004 | 43232800 | Amendment | ||||||
10/07/2005 | 53200806 | Amendment | ||||||
10/07/2005 | 53388353 | Amendment | ||||||
12/06/2007 | 74601786 | Continuation | ||||||
02/06/2008 | 80442937 | Amendment | ||||||
07/23/2004 | 42215608 | Financing Statement | JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT CHICAGO, IL | |||||
02/17/2009 | 90502846 | Continuation | ||||||
03/09/2009 | 900722626 | Amendment | ||||||
06/03/2009 | 91747838 | Amendment | ||||||
06/03/2009 | 91761755 | Amendment | ||||||
07/11/2005 | 52219583 | Financing Statement | JPMORGAN CHASE BANK, N.A., AS ADMINISTRATIVE AGENT DALLAS, TX | |||||
09/30/2010 | 03409483 | Financing Statement | NORTH CENTRAL RENTAL & LEASING, LLC FARGO, ND |
Schedule 9.03-1
INVESTMENTS
Schedule 9.05-1